First-Citizens Bank & Trust Co. v. Parker

The Bankruptcy Act, sec. 17, 11 U. S. C. A. 35, provides that a discharge in bankruptcy shall release the bankrupt from all bis provable debts except such as “. . . (fourth) were created by bis fraud, embezzlement, misappropriation, or defalcation while acting as an officer or in any fiduciary capacity . . .” Do the judgments in question come within the quoted exception ? This is the decisive question presented by this appeal.

It is the duty of a guardian to keep his ward’s money and property separate from his own; to keep an account thereof; to make authorized investments, G. S., 34-13, not…